Mid-size law firms embrace big ideas for future
Findings suggest firms who collaborate are more likely to innovate
Mid-size law firms are looking for big ideas and are focused on strategy, according to research carried out by LawNet, the collaborative non-profit network.
Research participants said they were focused on the big issues in their businesses and ranked opportunities to learn the latest leadership thinking from outside the legal sector as most important to achieving that.
Other top-five factors reported for the future success of firms were leading-edge approaches to financial management, quality processes and risk management culture. The findings also revealed that being open to collaboration can generate big gains.
“Law firm leaders can be cautious about sharing their ideas and concerns with peers in other firms,” said LawNet chief executive Chris Marston, “but being open-minded about the opportunities offered by collaboration can make a meaningful difference in terms of thinking and attitudes. We see some exciting examples across our network, with firms working together in areas from robotics through to HR.”
He added: “Openness encourages reciprocity. I can think of a case in our network of one firm sharing their experience in developing career pathways backed up by a competency framework, and the receiving firm sharing their ideas and experiences of outsourcing in return. Our members know they can speak very openly with their network peers in a non-competing environment, but there is a real opportunity for greater co-operation in the sector generally.”
The findings were drawn from a research project undertaken with LawNet’s 70-strong membership during February and March 2020, as part of the network’s audit process.
Drilling down, the findings were analysed by size of firm across the network. This showed that despite narrow variations in the ranking at different turnover levels, the top five factors remained constant across all the firms surveyed.
Explained member engagement and strategy director Helen Hamilton Shaw: “Our members tend to be in the £2m to £25m turnover range, which gives a coherent group for research purposes in a sector ranging from sole practitioner to Magic Circle, but it’s important for us to understand variations across the membership to tailor future support.
“There were some differences in ranking of future priorities, reflecting capacity of different size firms, but it was interesting to see the consistency across the network, with every size of firm saying that embracing big ideas was vital.
“Opportunity may play a part in that, as activities like our annual conference bring in international-class speakers from across the corporate world, beyond anything most firms could access otherwise. This often takes participants out of their comfort zone, introducing them to ideas that are not yet mainstream, but we find everyone welcomes the learning, even if only to understand what is coming.”
ENDS
For further information, please contact:
Press information:
Maggie Taylor, Prima PR & Marketing
Direct line: 0207 846 0096 Mobile: 0797 3767 602 Email: maggie@primapr.co.uk
Helen Hamilton-Shaw, Member Engagement & Strategy Director, LawNet
Direct line: 01926 834622 Email: hhamilton-shaw@lawnet.co.uk
Notes to Editor:
About LawNet
LawNet was established in 1989 to enable a collaborative, mutually-owned national network where independent law firms could access big firm resources and benefit from collective purchasing, shared knowledge, best practice and expertise.
All members share a commitment to excellence and must achieve and maintain LawNet’s own ISO.9001 standard and the associated Mark of Excellence in client service.
There are currently some 70 member firms, ranging from £2m to £25m in turnover, giving a combined aggregate turnover in excess of £300m, equivalent to a UK Top 15 law firm.
Independent research shows LawNet is most highly valued by members for delivering in six key areas – learning, networking, PII, practice support, marketing, risk management and compliance. It currently places over £1bn worth of PII cover alone for members each year, which helps stabilise premiums for firms.
LawNet hits new membership high
LawNet, the collaborative, non-profit network for independent law firms, has announced a record intake of new members, taking membership to 71 firms - the highest for 20 years.
Six new firms have joined during the past year, with the two most recent recruits being London-based William Sturges and Martin Tolhurst Solicitors in Kent, bringing the combined turnover of member firms to more than £300m.
Managing partner Richard Carter of Martin Tolhurst, which has 160 staff across six offices, said: “We were delighted to join a group that had impressed us from afar. We like the fact that the network is member-owned and will support our firm in building our own brand. We are keen to get involved in the excellent training programme and the collaborative approach with like-minded law firms is already evident from our first few days of membership.”
At Westminster-based William Sturges, with just under 50-staff, managing partner James Hannon said: “As a firm we want to make greater efficiencies, and membership will give us access to resources that would otherwise be out of reach to a firm of our size. We expect to see benefits in helping us manage risk, satisfy regulatory requirements and reduce our professional indemnity premiums, as well as giving us marketing and other expertise at a level that we could not otherwise expect to have in-house. The opportunity to share ideas and best practice with leaders in other progressive firms is also very attractive.”
LawNet chief executive Chris Marston added: “Growing the membership increases our influence and our buying power, which is vital for the future success of the network. But we will never lower the bar and any firm wanting to join LawNet must satisfy our stringent eligibility criteria and be a true fit in terms of quality and outlook.
“The new members who join us today are strong, independent, resourceful businesses who, despite being major players in their chosen geographical or sector markets, nonetheless see the value of being part of something bigger.
“They’re drawn to the collaborative, non-competing approach, which is so highly valued by our members.”
He added: “Our membership remains very stable, but consolidation in the sector has an inevitable impact, and we continue to be focused on identifying firms that may add to the mix, as well filling some geographic gaps."
LawNet membership is by invitation, typically to firms fitting the profile of £2m - £25m turnover who are prepared to commit to the LawNet ISO 9001 quality standard, which is mandatory for all firms and incorporates the network’s customer-facing LawNet Excellence Mark programme, through which LawNet firms measure the client experience using mystery shopping and client satisfaction surveys.
LawNet’s ISO 9001 quality standard also incorporates all the requirements of the Law Society’s Lexcel practice management standard, creating a direct route through which LawNet members can achieve dual accreditation.
ENDS
For further information, please contact:
Press information:
Maggie Taylor, Prima PR & Marketing
Direct line: 020 7 846 0096 Mobile: 0797 3767 602 Email: maggie@primapr.co.uk
Helen Hamilton-Shaw, Member Engagement & Strategy Director, LawNet
Direct line: 01926 834622 Email: hhamilton-shaw@lawnet.co.uk
Notes to Editor:
About LawNet
LawNet was established in 1989 to enable a collaborative, mutually-owned national network where independent law firms could access big firm resources and benefit from collective purchasing, shared knowledge, best practice and expertise.
All members share a commitment to excellence and must achieve and maintain LawNet’s own ISO.9001 standard and the associated Mark of Excellence in client service.
The combined aggregate turnover of the 71 firms comprising LawNet is currently in excess of £300m – equivalent to a UK Top 15 law firm – with members ranging from £2m to £25m turnover.
Independent research shows LawNet is most highly valued by members for delivering in six key areas – learning, networking, PII, practice development, marketing, compliance. It currently places over £1bn worth of PII cover alone for members each year, which helps stabilise premiums for firms.
Twitter: @LawNetUK
LawNet launch results of the Client Experience
PRESS RELEASE
Embargoed until 13th May 2015
LawNet chief executive Chris Marston will be launching “The Client Experience” with a presentation at LEGALEX AT ExCeL London, Royal Victoria Dock, E16 1XL on Wednesday 13th May at 12noon and Thursday 14th May at 4pm.
THE BIG REVEAL : COMMUNITY OPENS UP RESEARCH BASE TO SHARE SECTOR SECRETS ON HOW TO KEEP THE CUSTOMER SATISFIED
Results of the sector’s biggest-ever consumer-facing research show communication skills and follow-up are key to meet the challenge of changing consumer demand
Customer service and communication are the most important drivers to future law firm growth.
That’s the message to come out of the biggest-ever customer research project conducted in the legal sector, with commentators saying the results highlight the need to learn more from the retail sector.
The findings have been published by LawNet, the collaborative non-profit network for independent law firms, following two years of research involving nearly 25,000 client experience questionnaires and 1,100 mystery shops across its member community.
And whilst firms got the thumbs up from customers for great technical expertise and delivering positive outcomes, the research flagged up key areas for improvement.
The most important areas flagged by customers as having the potential to increase their satisfaction, were the speed of response, upfront clarity on timescales and fees, combined with regular progress reporting and fees updates.
The results show that the price quoted for a job is one of the least important factors in the decision to appoint a firm, with recommendation or previous contact being the most persuasive reasons, making customer satisfaction key to future growth.
The feedback also showed that advertising alone was not enough to convert customers, with only 3% saying this was an influencing factor, pointing to a need for greater emphasis on sales follow up by firms. Qualitative feedback from mystery shopping showed that where follow up processes were not adhered to, clients interpreted it as a lack of interest and firms were unlikely to convert the business.
Commenting on the results, Andrew McMillan, former head of customer service for John Lewis, said: “This research is invaluable in providing the big picture to the sector and it underlines the bare truth of what customers are looking for when they buy legal services. It shows that the basics are the same as in any other sector for today’s sophisticated purchaser.”
“Without those basics - or so-called ‘hygiene factors’ - in place, it’s impossible to make the leap into developing a real customer-focussed personality,” added McMillan, who oversaw John Lewis securing the UK Best Retailer top slot for keeping its customers happy.
The research is being undertaken by LawNet as part of the delivery and audit of the network’s Mark of Excellence, part of the network’s bespoke ISO standard, which requires network members to take part in mystery shopping and online customer surveying. The research is an ongoing project, with resulting feedback being used to guide future training and development for members.
“Retailers have always seen customer experience as the key to success and profitability, whereas professionals still tend to focus on the technical,” said LawNet chief executive Chris Marston. “But in a world where clients can place an order online, choose a delivery slot and receive an almost instant email despatch confirmation, those expectations are being brought into the legal sector and firms must do all they can to improve the customer journey. It’s about being easy to do business with.”
He added: “Some firms within the sector may be unwilling to acknowledge the similarities between themselves and retail operators, but after two years of research we’ve got a huge, robust set of data to learn from. We’ve seen members of the LawNet community implementing changes to respond to the findings, often turning to other sectors for good ideas to improve the client experience in their own businesses, and they are already seeing the benefits. It’s about being brave enough to face the facts.”
“Having a great service proposition is all very well, but if enquiries aren't captured and followed up, that's a terrible waste. Follow up isn’t being pushy, it’s about responding to an identified need. Satisfied clients will bring repeat business and recommend you to others, and our research has proved that service is much more important than price - a mere 4% of respondents quoted cost as the reason for instructing the firm.”
LawNet’s publication The Customer Experience : Lessons for law firms, covering the research and learning is available as a White Paper for download or in print.
About the research:
The mystery shopping was carried out by independent specialist Shopper Anonymous, and involved a mix of walk-ins, telephone calls, web enquiries and out-of-hours calls, repeated at regular intervals.
The online bespoke customer satisfaction surveying is delivered by Law League to identify and measure strengths and weaknesses, fee earner performance and overall satisfaction levels. Performance is benchmarked against fellow LawNet members and other firms taking part nationally.
In practice:
Examples of responding to the findings:
FBC Manby Bowdler, West Midlands : research showed a need for improved communication skills amongst reception staff, as a result of which they carried out a training programme for these front-line staff.
“This real, on-the-ground information is allowing us to assess what’s working and helping us to make the necessary changes to truly focus on how we service clients,” Kim Carr, managing partner.
Andrew & Co, Lincolnshire : research showed a need to keep customers well informed of the progress of jobs and resulting charges.
“Costs information was high up the list, but clients were talking not so much about the amount of the fee, but rather about the extent of communication. By encouraging each team to take ownership of the way they work both in the context of the client feedback provided, and in designing benchmarks for service delivery we’ve seen much improved scores in our own customer feedback,“ Phillip Hoskins, partner.
ENDS
For further information, please contact:
Press information:
Maggie Taylor, Prima PR & Marketing
Direct line: 01400 251557 Mobile: 0797 3767602 Email: maggie@primapr.co.uk
Helen Hamilton-Shaw, Director of Services, LawNet
Direct line: 01926 834622 Email: hhamilton-shaw@lawnet.co.uk
Notes to Editor:
About LawNet
LawNet was established in 1989 to enable a collaborative, non-competing national network where independent law firms could access big firm resources and benefit from collective purchasing, shared knowledge, best practice and expertise.
All members share a commitment to excellence and must achieve and maintain LawNet’s own ISO.9001 standard and the associated Mark of Excellence in client service. The combined income of the 65 firms comprising LawNet is currently in excess of £250m – equivalent to a UK Top 15 law firm – with members ranging from £2m to £20m turnover.
Independent research shows LawNet is most highly valued by members for delivering in six key areas – training, networking, PII, practice development, marketing and compliance. It currently places some £1.2bn worth of PI cover alone for members each year, which helps stabilise premiums for firms.
www.lawnet.co.uk Twitter: @LawNetUK
LawNet leading the way in service delivery
Customer focus puts a smile on the face of the lawyers with a 92% satisfaction rating
LawNet members are reporting real results from a £300,000 initiative launched by the network to tackle the image of lawyers as aloof, arrogant and unapproachable.
The first of its kind for law firms, the initiative is focussed on helping the mid-size independent law firms that make up the LawNet network to stand out from the competition.
The package for member firms includes mystery shopping, online customer satisfaction questionnaires and customer service training, all designed to give lawyers lessons that are drawn from the retail sector.
LawNet’s Excellence Mark is wrapped up in a bespoke ISO standard and auditing system, so it’s robust and measurable, but designed to be more than a compliance straightjacket, according to LawNet, so as to add value for clients.
And the results to date run in the face of the latest survey from the Legal Services Board1 which suggested that consumers are likely to view legal professionals as intimidating and typically described them as ‘arrogant, disinterested or unapproachable’.
“Initial results certainly show that our firms are keeping clients happy,” said Helen Hamilton Shaw, director of services for LawNet. “We’re investing back into member firms with this initiative, which will see £300,000 being spent during the first three years.”
She added: “Research always hits the headlines about how bad solicitors are at communicating with their clients, that they’re arrogant, unapproachable and aloof, and we have set out to counter that by helping our members to embed a customer-centric approach and achieve a recognisable standard that clients can look out for.
“We can see that it’s working. The first results have shown a 92% satisfaction rate for friendliness and approachability, from customers of LawNet firms who have completed the online survey. Customers have asked for better communication and transparency on costs, so that’s what we’re measuring.”
All LawNet firms are independently audited as part of their ISO accreditation and the new Mark of Excellence will form part of all future auditing, to check that firms are keeping up with the terms of the LawNet customer charter, including completing customer satisfaction surveys, mystery shopping, response times, transparent costing, backed up by regular staff training and a focus on boosting internal morale.
ENDS
http://www.lawgazette.co.uk/news/public-still-sees-lawyers-arrogant
1 https://research.legalservicesboard.org.uk/news/latest-research-3/
For further information, please contact:
Press information:
Maggie Taylor, Prima PR & Marketing
Direct line: 01400 251557 Mobile: 0797 3767602 Email: maggie@primapr.co.uk
Helen Hamilton-Shaw, Director of Services, LawNet
Direct line: 01926 834622 Email: hhamilton-shaw@lawnet.co.uk
Notes to Editor:
About LawNet:
LawNet was established in 1989 to enable a collaborative, non-competing national network where independent law firms could access big firm resources and benefit from collective purchasing, shared knowledge, best practice and expertise.
All members share a commitment to excellence and must achieve and maintain LawNet’s own ISO.9001 standard and the associated Mark of Excellence in client service.
The combined income of the 66 firms comprising LawNet is currently in excess of £250m – equivalent to a UK Top 15 law firm – with members ranging from £2m to £15m turnover.
Independent research shows LawNet is most highly valued by members for delivering in six key areas – training, networking, PII, practice development, marketing and compliance. It currently places some £1.2bn worth of PI cover alone for members each year, which helps stabilise premiums for firms.
Twitter: @LawNetUK
Groups join forces to support solicitors in post-LSA environment
Two leading and long-established law firm membership groups have joined forces to provide their law firm clients with access to increased support in the post Legal Services Act environment.
360 Legal Group, which specialises in law firm management, structure and merger will provide acquisition and merger support to member firms of LawNet, a mutual and member-owned group which comprises independent law firms with between 6 and 39 partners and operates the legal market’s largest PI scheme. LawNet will reciprocate by providing 360 Legal Group members and clients with valuable support in quality, risk management and specialist training. Both sets of members will benefit from greater access to a large pool of potential merger partners, increased training, conference, event and networking opportunities and a vast choice of consultancy services.
Whilst both organisations will remain totally independent in their operations, they will be looking at ways to share resources, services and contacts to the benefit of their members. The organisations serve different audiences – with 360 Legal Group primarily working with progressive small to medium-sized law firms and LawNet working with mainly heavyweight independent firms – but both agree that there is huge potential to work more closely.
John Thomas, Chief Executive of LawNet says: “We are different organisations but both aim to ensure our members stay ahead of the competition, reduce costs, improve efficiencies and enhance profitability and we believe we can be stronger together. Working collaboratively, whilst retaining our individual identities, ensures our members enjoy the best of both worlds – the membership benefits and support they have always enjoyed, but with access to a greater level of contacts and services.”
“LawNet has built its reputation through the exacting standards placed on member firms, and is well aligned with our values here at 360 Legal Group, to be innovative, ambitious and forward-thinking.” adds 360 Legal Group Chief Executive Viv Williams.
cont …
“As the legal sector consolidates there will be merger, ABS and private equity opportunities for many. Others are looking to raise their game and build their business around “Brand Solicitor”. By sharing our expertise, knowledge and best practice we can offer an unrivalled level of support to help all members achieve their ambitions.”
Benefits to members are already being realised with LawNet firms taking part in 360 Legal Group’s February Merger and Consolidation Summit. The organisations are now focusing on new packages for those seeking to buy, sell or merge.
ENDS
Background Notes to Editors:
About 360 Legal Group:
Founded in July 2004, 360 Legal Group has become the largest membership organisation for legal businesses in the UK, growing steadily over the years in response to a growing need for efficiency and business skills amongst its members and the legal profession as a whole. It provides marketing, management and strategy solutions for law firms, helping lawyers to manage and market their practices more successfully as businesses, differentiate themselves from local competitors and overcome the challenges facing the profession. The Group also specialises in the merger and acquisition of legal practices.
Through its dedicated business consultancy service delivered through a nationwide team of advisors, 360 Legal Group further helps its clients on a one-to-one basis to recognise the sweeping changes being introduced by The Legal Services Act, understand the difficult and fast changing trading conditions in which law firms now operate and explore how to take advantage of forthcoming deregulation.
360 Legal Group members access free SRA authorised CPD seminars for an unlimited number of staff as part of membership, which starts from under £30 per month. Membership also includes a free practice review which revisits and updates business plans and objectives, an annual benchmarking report to enable members to get an overview of their organisation’s performance against other member practices, a quarterly e-zine to inform members about trends and developments in the legal sector, a telephone helpline and discounts of at least 20 per cent on all of 360 Legal Group’s consultancy services.
360 Legal Group, Tel: 01275 465540 Visit: www.360legalgroup.co.uk
For further information please contact:
Jacqui Southway Viv Williams
Jacqueline Southway PR 360 Legal Group
Tel: 01454 201869 / 07747 804703 Tel: 01275 465540 / 07879 999274
About LawNet:
The combined income of the 67 firms comprising LawNet is currently in excess of £250m – equivalent to a UK Top 15 law firm – with members ranging from £2m to £15m turnover.
Independent research shows LawNet is most highly valued by members for delivering in six key areas – training, networking, PII, business development, marketing and compliance. It currently places some £1.2bn worth of PI cover alone for members each year, which helps stabilise premiums for firms.
Each year LawNet delivers over 60 CPD accredited learning events at venues throughout the UK, covering a wide range of technical legal updates, practice management and business development topics, including a leading-edge strategic leadership and management development programme. All the learning days are CPD accredited, many are provided as a free service within membership, and the member-defined programme ensures that topics tackle key issues affecting that particular area of practice.
All LawNet firms must achieve ISO 9001:2008 LawNet Quality Standard certification within two years of joining, and securing and maintaining that accreditation is a condition of membership. Through a unique agreement with the Law Society, firms can also secure and hold the Lexcel practice management standard and benefit from a simplified dual auditing process for the two marks, with the independent assessment delivered through LawNet.
Twitter: @LawNetUK Blog: http://thelawnetblog.wordpress.com/
For further information about LawNet, please contact:
Press information:
Maggie Taylor, Prima PR & Marketing Direct line: 01400 251557 Mobile: 0797 3767602 Email: maggie@primapr.co.uk
Helen Hamilton-Shaw, Director of Services, LawNet Direct line: 01926 834622 Email: hhamilton-shaw@lawnet.co.uk